Will TurboTax let me reliably import ETrade's 1099 and Consolidated 1099 and Stock Plan Transactions Supplement? Will it support cost basis? I have RSUs and ESPPs.

[danhilde]

I know that I can enter the data manually from my ETrade statements but I prefer to let TurboTax do this if it imports *all* required data including the 'actual cost' (or cost basis).  Thanks in advance for your advice.

[MarilynG1 · Accepted solution]

You should be able to import your 1099's for stock transactions.

Bear in mind that your 1099-B may not reflect the correct Cost Basis for your RSUs and you may need to manually adjust those.  

The broker does not always have this information. Starting in 2014 brokers need only report the "out of pocket" cost of of stock that's been acquired through an employer stock incentive program. 

Since you pay nothing "out of pocket" when an RSU vests, the brokers typically report a basis of $0 when you sell the stock.  If you report the sale exactly like it reads on the 1099-B then you end up reporting income twice: once as "compensation" income on the W-2 when the stock vests, and then as an overstatement of "gain" (or understatement of "loss) when you report the sale.

Click this link for more detailed info on Reporting RSU Sales

Here's How to Import 1099s.

[danhilde]

Thank you very much.  I will proceed carefully.  Dan

[SForrestLO]

You're welcome.

[firebird748]

This is not solved... 1099's are not importing from Etrade! It's not working as of 10:37am 2/15/2023... TurboTax IT department and Etrade IT department need to resolve this issue... I like thousands of others are now stuck on this issue... I've checked on my Etrade account, the info is there, but the TurboTax software won't download it.  TurboTax has "Gainskeeper" software in it, that's why I paid nearly $100 for it, so it would do the 100's of calculations automatically for me... Let's get this fixed please...

[CassLO]

It appears Etrade said that all of their 1099's are now available to import and download. Please see the following link: Etrade 1099's

@firebird748 

[Ajimmy19]

Use Morgan Stanley Holding. Etarde becomes Morgan Stanley.

[nborin]

I agree.   Did not work for me as of 2/15/2023.  Fidelity worked fine.  Not etrade.  I am sure they will blame each other.

[MoniqueLO_]

Please see this Help Article for important information, such as verifying TurboTax Import Partners and import instructions. 

If you need additional assistance, please feel free to contact Customer Support so you can speak with someone who can assist you. 
@nborin 

[jenningse]

doesn't answer my problem. TurboTax did not import my cost basis. It won" t let me override the value manually (option is greyed out). How can I accomplish this?

[CarissaM]

If the cost basis was not pulled in, you can follow the instructions here to edit what was imported. 

Please follow the instructions here to speak with us by phone if you need further assistance. @jenningse